India: GAIL Wants Partnership with HPL On Downstream Project
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Monday, 14 November 2011 |
Indian major GAIL has said it is interested in an equity partnership with Haldia Petrochemicals on a downstream project. HPL has already indicated that it will proceed with two downstream projects, a butiene-1 project requiring investment of Rs 200 crore and a Rs 1,000-crore synthetic rubber manufacturing plant. The company is seeking outside investors for both projects.
According to local title Business Standard, a top GAIL official has confirmed that the company is interested in a partnership with HPL. “We have submitted a proposal with the state government to have equity stake in a downstream HPL project. During our chairman’s recent visit, we had shown interest in gas pipeline project, a liquefied natural gas (LNG) floating storage and regasification unit (FSRU), city gas supply project and the HPL plan,” he said.
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